Quote:
Originally Posted by smotan_02
I think a better question is posed to our Net54 members that feel that multiple bid retractions are acceptable and explain their reasoning for use.
Note: I've had one bid retraction in 9 years and it was because the seller updated the item description with lesser condition. I retracted my bid and bid lower. I've had several I wanted to do, but always felt I entered a contract with the seller and was obligated to honor that agreement.
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I have been on eBay since almost the beginning and I have retracted 1 bid and shilled 1 item. I entered the wrong amount so I retracted my bid and then bid my intended amount several years ago. I also shilled 1 item around 18 years ago. I listed several very rare error cards and put reserves on all of them except 1 I missed by accident. It almost instantly received a bid so I could not correct the listing. I had a friend put in a bid at what my reserve would have been instead of canceling the auction.
I have talked about shilling and bid retracting with people that do it a lot. Most say they do it to protect their investment or get maximum value. Some retract because they over extend themselves and have to retract a bid so if they win another item they can pay for it.